UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stake in Biogen Inc. (NASDAQ:BIIB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 33.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,533,813 shares of the biotechnology company's stock after buying an additional 381,122 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.05% of Biogen worth $234,551,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BIIB. Pacer Advisors Inc. boosted its holdings in shares of Biogen by 13,574.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock worth $407,919,000 after buying an additional 2,648,024 shares during the last quarter. Norges Bank purchased a new position in shares of Biogen in the 4th quarter worth about $355,569,000. Van ECK Associates Corp boosted its holdings in shares of Biogen by 977.9% in the 4th quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company's stock worth $163,083,000 after buying an additional 967,523 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Biogen by 30.6% in the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock worth $325,537,000 after buying an additional 499,074 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Biogen by 982.0% in the 4th quarter. AQR Capital Management LLC now owns 539,692 shares of the biotechnology company's stock worth $81,914,000 after buying an additional 489,811 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BIIB shares. BMO Capital Markets lowered their price objective on Biogen from $156.00 to $139.00 and set a "market perform" rating on the stock in a research note on Thursday, February 13th. HC Wainwright lowered their price objective on Biogen from $241.00 to $187.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley lowered their price objective on Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Robert W. Baird lowered their price objective on Biogen from $300.00 to $255.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, Argus cut Biogen from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. Twenty analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $191.30.

Biogen Stock Down 0.4%

BIIB stock opened at $126.30 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The company's 50 day moving average is $124.95 and its 200 day moving average is $141.27. The stock has a market cap of $18.51 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.26 by ($0.24). The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. Biogen had a return on equity of 14.98% and a net margin of 16.87%. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the company posted $3.67 earnings per share. Sell-side analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now owns 11,318 shares of the company's stock, valued at $1,697,926.36. This represents a 43.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by company insiders.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.